Markets may start on a muted tone

14 Jul 2023 , 08:52 AM

Indian stock markets may start the day with flat numbers in yet another session. Yesterday, markets ended with gains after touching record highs. Nifty closed at 19,413. Sensex ended at 65,559.

Globally, US markets closed with marginal gains. Dow Jones ended 48 points higher. Nasdaq, on the other hand, closed with a major gain of 220 points. S&P 500 finished with a gain of 38 points.

Asian peers are sharply higher as Chinese shares registered substantial gains. Chinese Shanghai Composite is trading 0.14% higher. Hong Kong’s Heng Seng is up by 0.49%. Japan’s Nikkei 225 is up by 0.23%. Taiwan index is trading 1.09% higher. South Korean Kospi is trading 1.15% higher.

Nifty Midcap 50 stocks closed about 1% lower. The Nifty Bank index was marginally higher.

In yesterday’s trade, the top gainers were TCS, Hindalco, Infosys, Tech Mahindra, and Bajaj Finserv. Power Grid, Coal India, UPL, Maruti Suzuki, and BPCL were the biggest laggards.

Oil prices jumped in the early morning trade backed by tighter supply amidst issues in Libya and Nigeria. Indian rupee gained 10 paise versus the greenback and closed at 82.08/$.